TCOM vs. MMYT
TCOM (Trip.com Group Limited) and MMYT (MakeMyTrip Limited) are both stocks. Both operate in the Travel Services industry within the Consumer Cyclical sector. Over the past 10 years, TCOM returned 1.45%/yr vs 12.56%/yr for MMYT. At a 0.31 correlation, their price movements are largely independent.
Performance
TCOM vs. MMYT - Performance Comparison
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Returns By Period
In the year-to-date period, TCOM achieves a -36.73% return, which is significantly higher than MMYT's -43.29% return. Over the past 10 years, TCOM has underperformed MMYT with an annualized return of 1.45%, while MMYT has yielded a comparatively higher 12.56% annualized return.
TCOM
- 1D
- -1.98%
- 1M
- -1.88%
- YTD
- -36.73%
- 6M
- -37.22%
- 1Y
- -21.02%
- 3Y*
- 10.08%
- 5Y*
- 4.46%
- 10Y*
- 1.45%
MMYT
- 1D
- 1.04%
- 1M
- 8.94%
- YTD
- -43.29%
- 6M
- -45.54%
- 1Y
- -49.11%
- 3Y*
- 19.85%
- 5Y*
- 7.28%
- 10Y*
- 12.56%
TCOM vs. MMYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TCOM Trip.com Group Limited | -36.73% | 5.24% | 90.67% | 4.68% | 39.72% | -27.01% | 0.57% | 23.95% | -38.64% | 10.25% |
MMYT MakeMyTrip Limited | -43.29% | -26.86% | 139.00% | 70.40% | -0.51% | -6.16% | 28.95% | -5.88% | -18.49% | 34.46% |
Correlation
The correlation between TCOM and MMYT is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2010 | 0.31 |
The correlation between TCOM and MMYT shifts across timeframes, from 0.22 (3 years) to 0.35 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
TCOM:
$31.87B
MMYT:
$4.87B
TCOM:
CN¥47.68
MMYT:
$0.49
TCOM:
6.46
MMYT:
94.19
TCOM:
0.04
MMYT:
0.47
TCOM:
3.45
MMYT:
4.67
TCOM:
CN¥62.20B
MMYT:
$1.04B
TCOM:
CN¥50.12B
MMYT:
$725.37M
TCOM:
CN¥34.17B
MMYT:
$204.47M
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Return for Risk
TCOM vs. MMYT — Risk / Return Rank
TCOM
MMYT
TCOM vs. MMYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Trip.com Group Limited (TCOM) and MakeMyTrip Limited (MMYT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TCOM | MMYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.82 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | -0.76 | +0.27 |
| Martin ratioReturn relative to average drawdown | -0.93 | -1.33 | +0.41 |
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Drawdowns
TCOM vs. MMYT - Drawdown Comparison
The maximum TCOM drawdown since its inception was -76.34%, roughly equal to the maximum MMYT drawdown of -73.45%. Use the drawdown chart below to compare losses from any high point for TCOM and MMYT.
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Drawdown Indicators
| TCOM | MMYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.34% | -73.45% | -2.89% |
Max Drawdown (1Y)Largest decline over 1 year | -42.88% | -64.83% | +21.95% |
Max Drawdown (3Y)Largest decline over 3 years | -42.88% | -69.87% | +26.99% |
Max Drawdown (5Y)Largest decline over 5 years | -53.12% | -69.87% | +16.75% |
Max Drawdown (10Y)Largest decline over 10 years | -71.96% | -73.45% | +1.49% |
Current DrawdownCurrent decline from peak | -42.38% | -61.34% | +18.96% |
Average DrawdownAverage peak-to-trough decline | -27.85% | -36.42% | +8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.72% | 36.85% | -14.13% |
Volatility
TCOM vs. MMYT - Volatility Comparison
The current volatility for Trip.com Group Limited (TCOM) is 8.65%, while MakeMyTrip Limited (MMYT) has a volatility of 16.33%. This indicates that TCOM experiences smaller price fluctuations and is considered to be less risky than MMYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCOM | MMYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.65% | 16.33% | -7.68% |
Volatility (6M)Calculated over the trailing 6-month period | 28.01% | 42.46% | -14.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.05% | 49.57% | -13.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.19% | 49.29% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.30% | 53.49% | -9.19% |
Dividends
TCOM vs. MMYT - Dividend Comparison
Neither TCOM nor MMYT has paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
MMYT MakeMyTrip Limited | 0.00% | 0.00% |
TCOM Trip.com Group Limited | 0.00% | 0.42% |
Financials
TCOM vs. MMYT - Financials Comparison
This section allows you to compare key financial metrics between Trip.com Group Limited and MakeMyTrip Limited. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
TCOM vs. MMYT - Profitability Comparison
TCOM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Trip.com Group Limited reported a gross profit of 11.99B and revenue of 15.19B. Therefore, the gross margin over that period was 79.0%.
MMYT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MakeMyTrip Limited reported a gross profit of 145.76M and revenue of 250.12M. Therefore, the gross margin over that period was 58.3%.
TCOM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Trip.com Group Limited reported an operating income of 2.50B and revenue of 15.19B, resulting in an operating margin of 16.5%.
MMYT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MakeMyTrip Limited reported an operating income of 40.10M and revenue of 250.12M, resulting in an operating margin of 16.0%.
TCOM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Trip.com Group Limited reported a net income of 4.22B and revenue of 15.19B, resulting in a net margin of 27.8%.
MMYT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MakeMyTrip Limited reported a net income of 24.25M and revenue of 250.12M, resulting in a net margin of 9.7%.
Frequently Asked Questions
TCOM and MMYT have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMYT has higher volatility (16.33%) compared to TCOM (8.65%). In terms of maximum drawdown, TCOM dropped -76.34% vs MMYT's -73.45%.
TCOM currently has the higher Sharpe Ratio (-0.59 vs -0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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